Tiffany & Co. Gets Approval for Net-Zero Emissions Target
The Science Based Targets initiative confirmed the jeweler’s goal is in line with the latest climate science.
The SBTi guides the private sector on the best practices for setting emission reduction targets that are in line with the latest climate science.
The group is a partnership between CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature.
“This validation confirms that the targets Tiffany & Co. has set to reach net-zero emissions by 2040 are based on the latest climate science and meet the urgent need to keep warming to 1.5°C in line with the Paris Agreement,” said Tiffany.
The jeweler also received approval from SBTi on its 2030 near-term greenhouse gas reduction target.
By 2030, Tiffany pledged to reduce Scope 1 and 2 emissions, which are related to its own operations, by 70 percent compared with a 2019 baseline.
It plans to reduce Scope 3 emissions, which are related to its supply chain, by 40 percent by 2030 compared with the 2019 baseline.
Tiffany said it’s on track to meet both targets, having already reached 33 percent reductions in all three scopes last year.
The near-term target will mark a “significant milestone” toward its net-zero target, which includes a 90 percent reduction in emissions in all scopes by 2040.
“The remaining 10 percent of emissions is planned to be neutralized by high-quality carbon removals through Tiffany & Co.’s expanded investments in nature-based solutions,” said the company.
To reach its goals, it will require “the engagement and decarbonization of [the] entire value chain.”
Last year, the jeweler worked internally across departments to map out how to reach its goal, delving into the sourcing of raw materials, the distribution and transportation of its products, and the partnerships with its suppliers and manufacturers.
The company said it’s in the process of rolling out a supplier engagement program so it can work with key suppliers on decarbonization. There are plans to launch pilot engagements by the end of the year.
The jeweler also looked at the construction and operation of its retail stores, including the new Landmark flagship in New York City.
For the revamped flagship, the company made “significant investment” in sustainability by incorporating environmental, health and well-being initiatives into the store’s redesign plans. The store is on track to achieve LEED Gold certification and WELL Platinum certification, which is a measure of how a space promotes health and well-being.
Within its portfolio, more than 35 retail stores, offices, and manufacturing sites have been LEED-certified.
Starting in 2006, Tiffany & Co. has installed on-site solar at five locations, including in the Dominican Republic, Cambodia, and Rhode Island, as well as in two office and distribution facilities in New Jersey.
This year, the solar power plans will expand to its diamond polishing facility in Botswana and its jewelry manufacturing site in Lexington, Kentucky.
Currently, 91 percent of its global electricity stems from clean, renewable sources, said the company, including on-site solar and renewable electricity credits in more than 25 countries of operation.
The Latest
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.